What Are Economic Damages in Illinois?

If you’ve ever been injured in any kind of incident, you probably already understand the financial losses an injury can bring to your life. Even a relatively minor injury can lead to hospital bills, medication costs, aftercare expenses, and missed time from work.

These financial losses add up very quickly and can negatively impact your financial future. When someone else caused the injury that hurt you, then you can file an injury claim against them to receive compensation for all these financial losses.

When filing a claim, you’ll need to know the answer to this question: What are economic damages in Illinois?

Most Common Economic Damages in Illinois

Part of filing a claim is adding up your losses. Your losses can be economic, which means financial losses. Financial losses are those that are directly tied to money loss. For instance, the hospital bills you’ll receive due to injury-related medical care are directly tied to monetary loss for you.

Your losses can also be non-economic, which means not related to a monetary loss. For example, mental anguish, physical pain, and emotional suffering are not directly tied to financial loss. These losses are priceless, in that you can’t put an actual price tag on how they will affect your life.

The most common financial losses in Illinois injury claims are as follows:

Medical expenses, such as hospital bills, medications, and co-pays

Property damage

Household services expenses

Transportation costs

Loss of income and lost earning potential

The cost of physical therapy and mental health treatment

Make the Call to an Experienced Illinois Personal Injury Attorney

The more information you have, the better prepared you’ll be when you go to submit your injury claim.

Now you know what some of the economic damages in Illinois are. Make sure you receive fair compensation for your financial losses by working with a lawyer at Lane & Lane, LLC. Reach us via the online form below or call 312-332-1400 for your free case review.